Silver Lake shot into prominence after acquiring PC maker Dell Inc along with Michael Dell in 2013. It is a global leader in technology investing, with over $43 billion in combined assets under management and committed capital and a team of approximately 100 investment and operating professionals located around the world in Silicon Valley, New York, Hong Kong and London.
Launched in 1999 as a specialist firm focused on technology company investments, Silver Lake has maintained a strategic discipline since its founding and engages in a synergistic and collaborative approach to investing across investment strategies, the company's website said.The fund has three investment strategies:
On April 22, Facebook bought 9.9% stake in Jio Platforms for Rs 43,574 crore. That deal valued Jio at Rs 4.62 lakh crore ($65.95 billion).Key things to know about Silver Lake:
Since its launch three years ago, Jio, led by billionaire Mukesh Ambani, has grown at a sprinter’s pace to become India’s largest telecom company. It has accumulated some 340 million customers through a barrage of innovations, including offering cut-throat mobile internet prices and a diverse suite of products and including chat services, movies, games and music.
The deal will help reduce RIL’s debt burden, which bulged due to the breakneck expansion of Jio and other businesses. Ambani invested around $40 billion to launch Jio in 2016. RIL is also the largest retail player in India thanks to a series of aggressive expansionary moves into consumer-facing businesses such as e-commerce and grocery.
On April 30, Reliance Industries said it will achieve zero net debt status ahead of schedule, as it announced its quarterly and annual results.
In addition to the investment by Facebook, the company said, it has received strong interest from other strategic and financial investors and is in good shape to announce a similar-sized investment in the coming months.
Follow our complete coverage of the Jio Silver Lake coverage here.Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.